Archive : Federal Reserve

A new bank bailout plan of nearly $1.5t has just been unveiled by the US Treasury Secretary timothy Geithner. The plan has been designed to expand the size of a major Federal Reserve lending program from previous $200bn to $1 trillion. Furthermore, the additional funding will also be used to develop a public-private investment fund Read more

Figures from the commerce Department show that between July and September, the US economy has shrunk at an annualized rate of 0.3%. Though they showed the sharpest contraction of the economy since 2001, the gross domestic product (GDP) figures were better than expected. On the other hand, consumer spending that constitutes two-thirds of the US Read more